Smart retirement strategies for the long run. Starting with the short run.
How much will you really need?
Retirement is personal. So the conventional wisdom of needing to maintain 70-80 percent of your salary might not apply. In doing your own math, it’s important to consider how expenses like a mortgage, or helping a grandchild pay for college, will affect how much income is right for you.
Get familiar with the numbers.
With expenses big and small in mind, you can begin to wrap your mind around how much income you’ll need to generate, how much money you’ll need to put away, and how you can best invest all you have.
Plan for additional expenses.
On top of your more predictable expenses, like mortgage payments, you may also need money for unexpected expenses, like health care. Whether you’re decades from retirement or it’s just around the corner, now is the time to consider different scenarios.
Know your starting place.
Once you know how much you’ll need to save for retirement, you can see how far you’ve already come. We’ll take a look at your 401(k) and IRA and work with you to help ensure you’ll have all you need.
Build your savings.
Together, we’ll consider the methods for growing your savings. From market investments to annuities, you have options to achieve your personal goals.
Turn savings into income.
You could take money out of a mutual fund and invest it into a Guaranteed Lifetime Income Annuity. Or you could turn a variable annuity into a Guaranteed Future Income Annuity. Options abound. Let’s determine yours.
Ready to plan your retirement? A registered representative near you can help.
Want to know how much retirement income your 401(k) can provide?
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